Nigerian Agip Oil Company, a subsidiary of Italy oil giants, Eni, has said that it complied with the law on issues pertaining to Oil Prospecting License (OPL) 245, and that it had published in its website the documents of the judicial investigation into the acquisition of OPL245 in Nigeria.

     …Condition forcing firms to slash capital budgets

The slump in oil prices caused by the Coronavirus is believed to have forced many companies, including International Oil Companies (IOCs) to slash their capital budgets and suspend some projects.

These poor performances has forced analysts to suspect…

Deep production curbs by the Organisation of Petroleum Exporting Countries (OPEC) and its allies had helped oil rebound from its plunge below zero in April, but analysts say that it’s a not a comfortable time to pump up the volume at the market.

OPEC and their allies had planned to…

Nigerian power generation companies (GenCos) have faulted the demand by their sister sector, the electricity distribution companies (DisCos) for an all-inclusive forensic audit of the power sector.

They argued that as the revenue-receiving arm of the sector, the Discos cannot request that other players be audited.

The…

OPEC has opened its Fund’s Young Professional Development Program (YPDP), a structured two-year program designed to prepare young professionals from the OPEC Fund’s member countries for a career in global development.

In a publication yesterday, the cartel said it is currently seeking applicants with a passion for and commitment to…

Sixty-four years after the discovery of crude oil in commercial quantities at Oloibiri, Bayelsa State by Shell Darcy, the Federal Government working closely with the Bayelsa State Government and Shell Petroleum and Development Company (SPDC) have started the establishment of an Oil and Gas Museum and Research Center in the town.

The World Bank in a recent study on the African Continental Free Trade Area (AfCFTA), said the trade pact represents a major opportunity for countries to boost growth, reduce poverty, and broaden economic inclusion.

It stated that if implemented fully, the AfCFTA could boost regional income by 7% or…

Again, the Federal Government has been urged to declare Anambra State as an oil-producing state.

Anambra State chapter of the Host Communities of Nigeria Producing Oil & Gas (HOSTCOM) which made the call said it said would enable the state attract more development and revenue.

The Chairman,…

The country’s earnings from the oil and gas sector dropped by 2.6 percent in the first quarter of 2020 the Central Bank of Nigeria has disclosed.

The Apex bank in a statement said Nigeria’s earning went down from N1.6 trillion realised in the fourth quarter of 2019 to N1.5 as…